You obviously don’t live near Wheaton or Aspen Hill. |
First, can we have a discussion without talking about "you folks" and slinging insults? Second, I'm happy to be corrected on anything wrong, or for anybody to add needed nuance to the statements. You know....have a conversation. |
You are really stupid if you think all of these dense units are going to be bought and owned by higher income families. They’re going to be bought up by slum lords, conglomerates, and investment funds who have zero motivation to maintain the properties because their entire goal is to minimize expenditures on property maintenance. They’re going to rent them out to low income masses. |
So I'll set aside the unnecessary insult for a second... We're both making educated guesses here, but I think it is unlikely that a "slum lord" is going to by one single family lot in Bethesda as a huge money-making endeavor. I think it is more likely that a developer will buy it and build a mid-range duplex, and then sell it or rent it to a young family as a starter home. I think the math points in this direction- Even the land will be expensive. You can't buy a piece of land worth 500K, take on the cost of demolition and build, and then rent it out for 1K per month and expect a profit any time soon, even if that translates to 4K per month. |
Soooo...not "attainable." (DP) |
I have no problem with ADU's. However, there is a big difference between allowing an accessory unit with two households (on a single lot) and upzoing vast portions of the country to allow up to 8x density. MOCO is also going to allow subdivision of lots which will result in 8 units where there used to be 1. This is a huge problem for traffic and schools. Unfortunately, the burden of this increased density will fall disproportionately on the middle-class and lower-income neighborhoods. The financial return on building plex units will be higher in areas with more modest single-family houses and lower land prices. This county is very focused on "equity," but upzoning SFH neighborhoods will worsen inequality and economic disparities by eliminating homeownership opportunities for middle-income and working-class households. |
+1. Duplexes will only pencil in areas that aren’t well served by mass transit. Triples may do a little better. Quads are most likely to pencil, but at that point we’re talking about pretty small units that are likely to be rentals. For taxes, I think Friedson put something in a tax bill last year that would exempt some of these from impact fees and property taxes. I think it was something like anything with 25 percent affordable units would be property tax exempt. That means you could build a quad with a small basement MPDU (that would be naturally affordable anyway) and get out of paying property taxes and impact fees. If he hasn’t passed it yet, expect that to come next when zoning doesn’t magically make these units appear. I’m all in for the upzoning as long as the county carefully reviews existing and proposed tax exemptions to make sure upzoning doesn’t result in more properties that don’t pay property taxes and as long as everyone is realistic about needing more roads to make this work. |
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This is very simple. SFH owners want SFH neighborhoods. SFH owners generally have choices. SFH owners tend to be in higher income tax brackets than others. At Federal level, for 2022, top 1% paid 45% of all Federal income taxes, top 5% paid 65%, top 10% 75%, top 25% 89%, top 50% 97, and bottom 50% 3%. There is little chance that 2 lower income families living in a duplex will offset the income taxes paid by the higher income family living in that former SFH. And MoCo will have increased its costs in providing services to those 2 families. And, no, property taxes will not cover the costs. The fact is that MoCo makes money on upper income families. MoCo loses money on, perhaps, 50% of its residents. Driving them upper income taxpayers out of MoCo is a financial loser. |
See areas of the county that were solidly middle class 20-30 years ago. |
Few, if any, upper income families will buy a duplex in a neighborhood of these dense units. |
It’s funny that the person charging that others are “catastrophizing” thinks someone saying “you folks” is an insult. The first misleading claim is regarding units. The proposal is for 4 units at a minimum lot size of 5,000 sq ft and allowing for lot splitting. So if you have an 11,500 sq ft lot, you can do 8 units. |
It’s very difficult to sell duplexes in MD outside a condo/HOA structure. |
DP but they’re getting rid of setback requirements. |
I agree 100%. And I question whether condos are good long-term investments in MoCo. Maybe, they work as rental units but not as owners. Moreover, being an owner of one unit is a duplex, etc, is a recipe for disaster, at all sorts of levels. |